More than half are seriously considering leaving the profession or retiring early. A third of those thinking about leaving for other fields were tenured professors.
Duckett succeeds Roger Ferguson Jr., who had announced his plans to retire. She was most recently CEO of Chase Consumer Banking.
Walsh says he will tell EBSA to reexamine the regulation, which an expert says has led to ESG products being taken off of retirement plan platforms.
Annual Allianz retirement study found earlier retirement, more strained personal finances
Retirement plan advisers have to choose one client over the interest of others – and that affects the services they provide, their fiduciary responsibilities and profitability.
Retirees in the pension plan of Philips North America will receive the same monthly benefit.
The agency includes new fact sheets that target different age groups and special situations, such as eligibility for benefits.
Most of the new PEPs clients have not previously offered a retirement plan to their employees, often because of the administrative burden of setting up a 401(k).
Privately held companies using law firm Wilson Sonsini's capitalization software will migrate to Morgan Stanley's Shareworks.
Savers who invest in individual funds outside of their target-dates are generally better off not because of superior investment acumens – they’re just better at putting money into their accounts.
Abbott Labs and Genentech won dismissals in cases against them, although plaintiffs can refile their complaints. Cerner Corp. and BlackRock have reached settlements in class-action cases against them.
Despite new figures showing higher savings rates and account balances, just over half of people said they are worried about how the pandemic will affect their financial security in retirement.
The program, which was launched in 2017, represented nearly $85 million in assets among 88,000 funded accounts at the end of 2020, according to figures from the state. It was the first of several automatic IRA systems that states have rolled out for private-sector workers who otherwise would not have access to a workplace retirement plan.
The case for emergency savings accounts has always been compelling. When low- to moderate-income workers run into problems, they either take out loans or make hardship withdrawals, contributing to plan leakage. The pandemic only highlighted the issue.
Last year’s market plunge and quick recovery appear to have changed the way people feel about the value of guaranteed lifetime income, Cannex found. In February 2020, 71% of people said they found guaranteed lifetime income highly valuable, but that figure had dropped to 63% by August.
The company said that year that it would separate the life and retirement unit from its sprawling property-casualty operation, furthering the dismantling of the insurance giant.
The changes, which take effect May 1, mark the second time in a year that the company has significantly altered its insurance-series funds to make them match their better-known retail counterparts.
With the deal for Atlanta Plan Partners, which oversees more than 130 retirement plans, OneDigital Investment Advisers will serve approximately 5,000 retirement plans.
The retirement plan aggregator's national footprint grows to more than $600 billion with the addition of Cammack Retirement Group, which serves more than 170 plan sponsors.
If the goal is to collect the largest possible survivor benefit, wait until full retirement age to claim it.
